Lowell, MA · Member since 2017 · 10 posts · 0 votes
Hello All,
I am a realtor in Lowell, MA currently working with investors and sellers with properties that are difficult to sell.
I recently have moved to Waltham. Although I will still be working out of my office in Lowell, I am interested in starting to get involved in the Waltham market.
Does anyone have any advice on how to get myself involved/ how to learn the market? Thank you.
Hit the open houses hard and fast - both public and broker's. And just for practice, run comps on those homes after you visit. Without looking at the listing price, see how close you come.
Those two things will get you acquainted with the market faster than anything else.
@Allyssa Guerin You could also start with some driving for dollars, which I think is a great way to learn a particular market. Could also provide you a list of homes to go after for investors!
Some of the things I do when trying to learn a new market are set up some searches on MLS so that you receive new listings for Single Fam, Condo and Multis that come on the market, visit those open houses and then keep an eye on them to see how fast they go under agreement and if they sell above list etc. You definitely want to see them in person because if the house is a dump and still sells fast then you know its a desirable area. Also, read the descriptions of listings in Waltham because most Agents will include in the write-up if its a "highly desirable" area of the town (most towns have sections that are more desirable than others), for example in Waltham you may see "Highly Desirable Cedarwood location". Some write-ups may also say mention other aspects that make that location desirable for example close to train etc. As you read the descriptions and track how they perform you will quickly understand the hot/desirable areas. Finally, you could simply call up the local real estate office and pretend to be a Buyer interested in the area and ask them to tell you about the town and which areas are good, which streets etc.
@Nick Foundas Thank you for the advice. I will do that.
@Chris Anderson Thank you, I will let you know if any questions come up. Im getting an idea of the neighborhoods. I live in Bear Hill so I know Weston is a higher priced area. I also work as a bartender on Moody St. and I have been trying to gage the area by talking with locals. I know Moody St. is more South Waltham with denser neighborhoods and older multi homes.
I work for Z.R. Rourke Real Estate out of Lowell. I work with a group of investors in a small brokerage. I figured I would try to get myself into this market though because property valuation is much higher and investment properties are probably a good idea around here with all the schools so close by.